Chief Financial Officers (CFOs) and treasurers must be able to work quickly under dynamic market conditions and possess multi-disciplinary experience in order to be able to adapt successfully to the new world order, according to a panel of experts at The Asset’s 3rd Asia Treasury and Trade Summit held at the Four Seasons Hotel, Hong Kong.

With the rapid development of technology over the past few years, the roles of the CFO and treasurer are undergoing a paradigm shift from traditionally being tasked with financial reporting and bookkeeping to dealing with strategic issues, financial threats, and cyber attacks.

Experience in various industries and sectors is also helpful for CFOs and treasurers who have to deal with new opportunities and risks in the new economy.

“Accumulating experience from different industries (is also helpful). Once you have the experience in one industry you can use these experience in other industries. This kind of experience is important as we move to the new economy,” says Jeff Yu, group treasury director of JD.com.

“You’ve got to be multi-disciplinary. It’s no longer enough to be a specialist in accounting or being a spreadsheet specialist. That’s no longer good enough,” says Bipin Kumar Tibrewal, group chief financial officer of Airbus India.

CFOs and treasurers must also have the strategic skills to be able to steer their companies into the new world order.

“About 50% of the job requirement will be taken over by machines so as a CFO you must seek out what else you can do in your role to enhance the strategic decision-making of your company,” says Staney Pullolickel, treasurer, MENAT, SSA & South Asia, of GE Power and Energy Connections.